In the development of new medicines, clinical trials are conducted to prove therapeutic safety and effectiveness and compile the evidence needed for the Food and Drug Administration (FDA) to approve treatments. And the biopharmaceutical sector is committed to bringing new treatments and cures to patients. This commitment to innovation supports high-quality jobs and is a vital part of every state’s economy and our global economic competitiveness.

Economic Impact In Your State: New Jersey

The overall economic impact of the biopharmaceutical industry on the U.S. economy is substantial. The biopharmaceutical industry accounted for more than $1.2 trillion in economic output, representing 3.8 percent of total U.S. output in 2014. This commitment to innovation supports high-quality jobs and is a vital part of every state’s economy and our global economic competitiveness.

$108.7 B

Total output supported by biophamaceutical sector

$722,834

Output per employee in direct biopharmaceutical sector jobs

378,726

Total Jobs

65,783

Clinical Trials in Your State: New Jersey

Clinical trials are vital to determining the impact of a new potential treatment. They are conducted to prove therapeutic safety and effectiveness and compile the evidence needed for the Food and Drug Administration (FDA) to approve treatments.

1,234

Total Clinical Trials

$245.9 million

Invested in Clinical Trials

25,127

Clinical Trial Participants

$617.5 million

Total Economic Impact of Clinical Trial Investments

Programs and Initiatives in Your State: New Jersey

Nationally, the biopharmaceutical sector is a leading industry in commercializing new technologies and advancing high-growth potential start-up companies. States are recognizing the innovative strengths of the U.S. biopharmaceutical industry that have resulted in significant economic impacts across the country and are increasingly implementing a variety of programs and initiatives to grow the industry's footprint within their own borders.

State programs and initiatives to promote biopharmaceutical industry development